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tv   Cavuto  FOX Business  March 4, 2015 8:00pm-9:01pm EST

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president. stay tuned, as they say thank you for being with us and good night from new york. ♪ ♪ neil: you know here is why i fear that we will never get this under control. forget about ever really doing it we cannot even fake doing it. welcome, everyone, i am neil cavuto. talk about a house of cards because the fictional president on that fictional netflix show takes a fictional stab at entitlement spending and liberal blogs are going nuts. but even more seriously not when i bring up the ridiculous reaction to this ridiculous totally made-up issue. the huffington post detailing
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how the school of zero unemployment is impossible and that even if he did get there, inflation would get out of control everywhere. and even cutting entitlements on a fake show with a fake president gets this type of irate response. this is rome in the final days. you can almost guess what happens next. angry liberals jumping on this. this headline on the popular media website. no not obama it goes on to explain that we were rushing to a fake president under the defense. i wasn't watching anyone's defense, but wondering why so many were taking offense over something that wasn't real.
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and the whole storyline that is totally made-up and didn't matter. i want you to take a look at some of the responses like this one. then there's this. fake president for a fake news channel. in this one i like. and then there's this one. i have no idea what this means. obviously neil cavuto is okay he makes underwood look like oregon. and what a heartless. all for coming entitlements anyway he can. and most people are aware [inaudible] and they cut entitlements for the stimulus program, but caputo did not mention that, actually i did mention that, but who needs that on something that is fake
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and thank god there are some viewers that did know what i was getting out like this guy. this headline is so deceptive, ranting about a fictional character being taken seriously and somehow he is defending him. this website is growing worse day by day and there were a lot of others like this. most of them were like this last one. but my point wasn't to make me look good i don't have to. my other point was to take a look at how difficult is to ever get a handle on real reform because even when we discuss a fake show we cannot even fake it. if that is the case, we really are a financial house of cards. steve what do you think? >> well, it is a fake show but it's not a fake crisis. this entitlement timebomb and
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you have it exactly right this is a real crisis 10,000 americans are retiring every day and going on medicare or social security, this is the titanic headed right towards the iceberg. shame on you for saying maybe we should start turning that ship away from the iceberg. >> here's the thing is that even when a show as silly as this wise people are seriously all worked up about it. so if we can't even get to it on a fake entitlement address, how are we ever going to get serious about it? >> this is where they went and are totally wrong democrats never would have release something like this without intensive persuasion and he never would have just talked about entitlement reform the way
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that he did in that meeting. the independent women's forum did conduct an experiment to figure out how to we talk about this and talking about it is not the sort of bomb that we are thinking that it is. when we talk about cutting spending or to preserve entitlement, americans are strongly behind it and strongly behind constraining our budget as well as reforming entitlement and that is good news. >> my worry with this is that we take it seriously with anything that comes up there. so by that definition i guess there are subliminal messages that were not careful, this is us in a few decades. we have to get serious. >> why i am mad at you and your your producers, you semimythical benefit do you want to do the show today. and you totally ruined the house of cards for me. i was going to spend my weekend watching it. >> i don't want to talk about it. [laughter] >> i hope people keep their
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mouth shut. you ruin my day, thank you very much. neil: you know that the democrats are serious about the budget. >> oh yes i forgot that the last democrat gave us a balanced budget and his name was bill clinton, by the way. neil: i think that bill clinton would take offense. >> i agree. i actually agree with you. neil: democrats are on the same page. everyone lighten up. >> first of all i didn't know that underwood was president. so thanks a lot. but here's the point we notice we have tens of trillions of unfunded liability in these programs. whether it's fictionally or in real life we are going to end up come in this country is going to end up with a problem. >> below and it is.
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>> and doctor doolittle, the animals do not really talk. although some of them, i think could. >> i also don't think that the president has killed two people with his hands in this country. >> i don't think this is a political disaster i hope that people will take a look at the research that we did on this issue. there is a win politically and there is a win policy wise and we have to deal with this issue and i think that americans are more behind reforming this and it's a matter of how we talk about in a way that makes you go comfortable and make people realize that we are trying to preserve this for the future. neil: well said. one other footnote a lot of you were confused as of this was built on nancy pelosi.
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that was the case. meanwhile fake or real it really doesn't matter. if these ladies are right no one cares about government spending at all. >> this is my question i really want to know how to answer to audiences who elected this leadership and put them where they are. this is really what it comes down to. if bill is going to cave on us why didn't he keep a week ago? why did he wait until there was a war? when you picture this and you say that this is a fight when is the last time they were part
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of this? when is the last time you saw speaker john boehner when a fight? >> there are quite a few like her who are not apathetic with the mainstream party and how it handles this stuff. >> if you look at what he says for the beginning, he he said watch out you can't do this. but the thing is tha but the thing is that even on a branding level they are not doing a great job because right now the democrats are saying see how far the republicans were willing to go because of how racist they are and they hate this immigration law. when really it's about the fact that it's not constitutional. and if you look at this thing that they would let terrorists invade as in becoming nhs this is the only time i have heard
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concerns about it at all. >> your argument is that we have to be very close to these threats and that republicans have to be looking at it as nominee is, whoever that is. if you were jeb bush or chris christie, what would you let them do? >> this administration has put us all in the mindset of we have to have someone who is not barack obama and certainly isn't hillary. so that is number one on their minds. it's paramount and that is across the board. >> i will say this what has got to happen for the gop is messaging. and you alluded to this. why instead of laying down didn't make it on the messaging voice and just when this
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argument with what is simple and understandable for the average american. >> we have to get through the mainstream media. and we know in that case that is never what this was going to be about. but they have to get through that. >> maybe they need to think about it before they go blazing saddles. >> blazing saddles was not a real thing. >> what? >> budgets may be blazing. >> but they came out and they were not prepared to fight it to the end and i don't know why they chose this with dhs. of course dhs understand that they are not under that umbrella. >> but isis is going to invade us immediately.
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>> ali have to say is this is 15% of employees that have mostly desktops. so this is not going to affect homeland security. >> what the republicans do i now >> they need to find something that they all agree on and stand behind it and do it. because right now they have this majority and it doesn't even matter because they cannot agree on anything. they need to prove that they are not just reactive. >> i agree he convinced the country he was right, take a look at benjamin netanyahu. >> he is good at negotiating. >> he was good at leading. we are looking at the threats north korea iran, so forth and so on, we are watching other
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leaders lead and the leaders in this country including the republican leaders right now that are refusing to leave, they are making commitments and then they are backing down. neil: you're saying that a guy that started as an actor in movies was a real leaders. >> he was in fact a real leader. neil: in the meantime, the irs singing the budget lose. who is singing your is next. ♪ at mfs, we believe in the power of active management. every day, our teams collaborate around the world to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients.
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. neil: talk about taxing and the irs complaining we have already
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heard how the agency has been whining about budget cut that have compromised its ability, but now the treasury is saying that those same cuts are going to create even more for you. they may not be able to get refunds out as fast were administered as part of the health care law that is their responsibility as well. is it me or is the government more concerned about its own tax headaches than your tax headaches and burdens in your rules to which you have to comply but you better fill out for tax forms nevermind your overlong, the treasury secretary says it's a bigger deal because they are. >> it is combined with reduced enforcement activity preventing serious long-term risk to the u.s. tax system. neil: no, he did not play the role of a quiet man. anyway forget the long-term risks for the u.s. tax system.
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dan mitchell has more about the risks for the u.s. taxpayer. and i think that they've got it backwards here. fill me on on what you think? >> if you look at the numbers over the last 30 years, you will see that even after adjusting for inflation the irs has almost twice as big of a budget now as they did 30 years ago. and it's not as high as the peak in 2010, with all the fake stimulus money that was being thrown around in every agency was drowning in taxpayer money but the notion that we can feel sorry for the irs and somehow we are not going to get the right service reminds me of this. if you are as leaves us alone i will be perfectly happy and here's what worries me. that what they are trying to say is that if you're not getting
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this, they are telling us in doing some covering and that worries me as well. what are the brazenness were? >> the irs has almost 100,000 employees as i said the budget is almost twice as big as it was for inflation 30 years ago well, maybe if they didn't spend so much money participating in a rewrite of the obamacare law and they were trying to influence american elections by political bias approval of different nonprofit groups maybe if they focused on their core mission they would have plenty of money to enforce the tax code and i say this as someone who does not necessarily blame the irs because of the politicians that have given us this tax code.
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>> he is the one saying all of this horrible stuff. here is another interest. to be fair to the irs they have the financial burden of doing a lot of financial parts of the health care law and i thought we hired 60,000 irs agents to do this. but it seems to me the treasury secretary understand that it might not be enough or wide. >> we definitely have one of these immovable objects, it irresistible force complex. because the tax code is such a mess and things like obamacare are supposed to be enforced by the irs we have to fundamentally choose we have to give massive budgets to the irs and basically let them tell us how to live our lives were we
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basically resist and tell the politicians that no we have had enough of an we don't like the fact that our lives are being into and that we don't have any privacy and that we give up the constitutional presumption of innocence. maybe you guys on washington on capitol hill need to fix some of the mass in the tax code. as far as i'm concerned i would much rather force them to change the tax code and to give more money to the irs irs than if we leave it on autopilot we wind up being greased. neil: in the meantime still calling on a blackberry?
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neil: branching out and ford is going out we are here to figure them out on the hottest new segment of all of cable news. because we have all of your tech questions that are answered each night every night. if it's a digit we are all over it. and long before folks were talking about this we have already patented the name so still not giving up. offering four new devices aimed at the corporate and government crowds. but the only ones that they still have are rabidly loyal when it comes to these raised keyboards obsessively so. so what does christina ward make of all this reed i just want to tell all of you that was not a
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blackberry device. [laughter] are we clear on that? very close. >> what do you make of this? >> you know they are coming out with devices, one of them is actually going to be a slider that slides out. and one of the new devices is actually a device that will be fairly low cost and they are talking about it from the early enterprise. they still have a strong business presents and i think that what they are doing is smart is expanding into being more of a software company and i think that that is really the big growth of opportunity. there are still people that love
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them. but they are out there and everyone else has moved on. >> this is a story you have to watch. are you interested in ordering a smart watch? it's a special device in your car. what the heck? are we in that much of a rush? >> often magnets that you put on the fridge. so this sounds silly at first. but if you think about it, take away from people who say have laundry pickup, maybe my groceries can be ordered for me we are getting to the age of events. and so we're kind of reaching the stage where everything can be automated and customized that we can view one touch ordering. >> this was a reference to home
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loan and home alone two. and ford is peddling icicle is. the automaker the last time i checked is creating a new bicycle with navigation centers and does this have things written all over it? >> it does and this looks amazing. neil: why are they doing it? >> a lot of people are not driving these days, they're looking at people getting older and people are not getting into cars as much. and you know, i can use it for gps navigation with my phone it can help me to get too hard especially when the weather is nice. >> what i notice is that they have it in the car.
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>> they say that he drives to the bike track and then you bike around. anything that others could follow suit. >> i think that they are just trying to cover all their bases and they know that a lot of people in urban areas are trying to be more green and are walking and biking more. so why not get in the market while they can. >> remember he blew up and he said it was not that fight. and now we know that you weren't spending that gas money you were saving.
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neil: we are still wondering but enough about me. imagine inheriting a thermometer from your parents. you just know it right now. imagine that that is 134 years old. it would be harder to get rid of that. find out what family does with his landmark on "strange inheritance" meanwhile expect more and pay less just don't expect help getting that giant bag of toilet paper off the top rack. companies big and small, market watcher greg smith talking about the inspiration in the movie titanic joining us now. so okay craig, what is going on? because of a lot of these guys seem to be repeating the same story. >> isn't that the truth, brick-and-mortar has lessons to
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learn as they walk down through the graveyard jcpenney kmart, sears and radioshack. neil: you were the first to whine and let's not party too soon. >> the reason i did not is because the economy hasn't turned around. brian cornell has his work cut out for him. he is laying off some people but watch what he is going to do like $2 billion worth of stock that creating better dividends. from quarter one of 2009 through the last numbers that we have they have fought back $2.1 trillion worth of stocks
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and not because people are spending their money, and not because they are making more money than they basically had to do that i balance sheet corrections. we cannot see these corporations make big money when we are growing an economy at 2%. it doesn't work. >> i'm beginning to wonder with income spending numbers, and come income up and spending down this is a trend with whatever savings they are getting and we will explain this more in the show, they are just not spending it. >> that's an interesting question and i will have to speculate. but we know for a fact that every penny at the pump means a billion dollars in the economy and we have seen at least $100 billion in gas prices coming into this economy. where did it go? we don't see anyone ripping the cover off the ball, which i have a pizza on order if my waters off your.
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but it's amazing because you know as well as i do and fox business has done a great job covering myth that the underlying economy is not growing at the pace that we need to hold these corporate profits were they are and that is why corporations are buying back the stock. if you are at 3.8% return your forward earnings are 5.8% january the old and you buy your stock back, you make the stock go up and pay more in dividends. neil: you are absolutely right. but here is the flip style. in this environment you will still be able to play this game where you barlow and by whatever and that this will kind of keep this slow-moving puppy going and
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because a pc year of do this, you're going to see a bunch of america go through the same thing. and companies open up they never had any profits come i went from zero to $200 per share, but we don't have the underlying economic strength to support this and that is why i wish barack obama would get out of the way in make free enterprise work. i really do. >> it is good to see you again. great info. as i said, the inspiration for the captain and the titanic. okay, all the money that never made it to the victims. now we know. don't say that i didn't warn you then. several lawmakers want to make you wait where they know exactly where each dollar is going.
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think of all the money that we have wasted not tracking it, the money that went to haiti to help them out but never really help them out and the money that went post-hurricane katrina. i hate to say it but this is a one-time thing when i wish that i was wrong. no super-slow-motion footage of trucks splashing through the mud. no cowboy hats, horses, or hay bales.
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just a ram 3500 that, head to head, can out-tow ford's f-350 by more than one and a half tons. get more facts at
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>> there is only one group to blame for the suffering of the innocent victims. the house majority owner speaker john boehner. neil: governor chris christie was not the inspiration for godzilla and back then he wasn't exactly feeling the love for the guy that was holding up all of that.
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and he even knew about it for over a year. michael brown. michael, what do you make of this? >> you have heard about crony capitalism, ask yourself this question, why do we have flood insurance that's subsidized and paid for by the taxpayers just because the insurance companies somehow convinced congress that they didn't want to deal with the actuarial problems and the repetitive claims and you had the flood insurance. so they pond that off onto the men now you have a program that for decades even though i was derek, is problematic. congress is always interfering and telling people you should pay these claims are you can't charge this premium, it is a perfect example of a program that should be in the private
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sector. >> i think it's probably everything going on. and we have these kinds of fraudulent claims that went past them. and that is a systemic problem within the government when you have those kinds of programs. >> we know to all of these other sources, $60 billion was allocated. and i'm not saying that none of them got it but not really the number that you would think and
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they have come to expect the government to do and i have seen people whose lives have upended or are a man-made disaster, but people have to recognize that government isn't going to be the answer. and if you are waiting for someone inside the beltway he was just being foolish. >> i'm still waiting for governor chris christie. to come out and simply say that we were wrong. >> you know hey this is the ten-year anniversary of hurricane katrina and there are problems there in the world.
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welcome to the club. >> jumping to point the finger at you. something egregious could happen here. that is ridiculous. >> yes it is. neil: michael brown, thank you so much. the former fema director. if you want to know the accurate story, who warned about everything that ultimately did happen remapped and the supreme court taking up obamacare again the media says this is another conservative attack. so why are doctors and patients scrambling
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>> goldie hawn on how it is blocking movies from being made
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with equal pay. neil: in tonight's business blitz. the supreme court once again taking off an argument that cuts to the affordable care act's corner. but so what happens if that carrot goes? that is pretty much at the heart of republicans arguments on why they took it to the high court. to jerry leiby and liz macdonald. why this could actually put republicans in this sticky position. >> no less than nine times in the affordable at care act having said that it was meant for states that build their own exchanges. it did not say that the irs is allowed to define the law after the fact and make up rules and regulations ad hoc
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after-the-fact. and even after saying that they had chaos and the world is going to hell in a handbasket you can still get catastrophic insurance. >> let's say that these are unconstitutional. and it's all because you guys are protesting. what do you think? >> it's funny. it is a really selfish choice when you think about it. and you have this act that is putting insurance companies in control of the ways that we get treated as patients
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and i'd like to see it repealed but it does hurt the gop if that happens the. neil: recruiting sophie's choice that this was actually inspiration for the movie the scarlet letter. meanwhile mcdonald's is paying this man $3 million as a consultant, about three times more than the salary of his successor. he is still getting pay if he gets things cooking he could be getting something else going as well so that is still not equal to the pay of the guy that he replaced. >> this is quite a happy meal at mcdonald's is giving the exiting ceo so this guy that oversight is the consultant and lo and
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behold mcdonald is finally saying that we are going to take antibiotics. >> and i don't know why he didn't pay more money for the guide and improved mcdonald's. >> all right everything is going to be disclosed here and consulted. so what do you think of this? >> first of all he was there and the exit strategy is smart. but it's interesting as you look at this from that perspective there are 52 week highs and while that is a lot of the way that we measure this, i think a lot of it is a lot of hope that
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easterbrook is going to change things. so we have to talk about this from this perspective. i do not think that mcdonald's is a smart bet right now, i think that it moves lower before continues. >> after talking millions and saving pennies, we have been getting it. the lower gas prices are not translating into a billion-dollar boon for operations more like a hit. we are telling you how customers are not spending it and that they are worried about savings accounts is. >> there are other analysts out there, debt and record levels near the $12 trillion that never really came down. they are worried about you know health care costs going
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up. so according to the conference board just as if the consumers are going out to retail stores to buy things, doing things like paint that as well. >> i don't know about ordering all around, i think that we have to talk about this a little bit deeper than they are buying bigger stuff from an investment perspective and that are frivolous as we well. they are certainly the retailers that are kind of buying cars,
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but definitely not going to the mall to the department stores. >> but eventually that well runs dry. >> there is a compounding problem they are as the dollar rises, all of the europeans and asians coming are spending their money on the high end products, now we have the double effect and so i think that yes potentially we could see this move lower in a lot of the high-end retailers. so this is a sector by sector thing and i don't think it will cause an economic crisis anytime soon. >> i want to thank you guys very much. >> take a look at this it's an apple spaceship. which companies are giving them
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a kit? ♪ at mfs, we believe in the power of active management. every day, our teams collaborate around the world to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients. it's a uniquely collaborative approach you won't find anywhere else. put our global active management expertise to work for you. mfs. there is no expertise without collaboration. the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute
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a cure for cancer, that's what i'd like to do.
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>> the veteran of the battle live -- squirrels away enough military gear for a platoon. >> aconite leaving get access to the master bathroom it was so clogged with the stuff. >> it was once-in-a-lifetime >> plus plenty of surprises. >> this is worth $50,000? >> usually wrapped in of blanket in a bathtub. jamie:


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